Interest in Sainsbury's grew this week as Bain Capital re-entered the frame.
The private equity group is rumoured to be exploring the possibility of a bid for Sainsbury's with Apollo Management and New York-based property firm Vornado Realty Trust.
Bain had been linked to a Cinven and Texas Pacific consortium last month, just after the CVC/Krohnberg Kravis Roberts/Blackstone consortium was forced to declare its interest by the Takeover Panel. Texas Pacific later jumped camp to join the CVC-led consortium.
Meanwhile, Robert Tchenguiz's investment vehicle Razino Properties has increased its stake in Sainsbury's to 4.05% from 3.5% last week. But it remains uncertain whether a concrete bid will emerge.
"I'm still not convinced there will be any offer for Sainsbury's as I don't think there is enough value in it," said one private equity source.
"But private equity is ringing the numbers on everything at the moment."
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